In February 2024, industrial production showed a decline of 6.4 per cent in the euro area and 5.4 per cent in the EU when compared to February 2023, as per initial estimates from Eurostat, the statistical office of the European Union.

In the euro area in February 2024, compared to February 2023, industrial production witnessed a decrease of 2.7 per cent for intermediate goods, 3.6 per cent for energy, 8.9 per cent for capital goods, 4.3 per cent for durable consumer goods, and 6.1 per cent for non-durable consumer goods.

In the EU, industrial production decreased by 2.5 per cent for intermediate goods, 3.5 per cent for energy, 7.5 per cent for capital goods, 3.9 per cent for durable consumer goods, and 4.7 per cent for non-durable consumer goods.

The most significant annual decreases were recorded in Ireland (-36.0 per cent), Belgium (-12.7 per cent), and Bulgaria (-8.4 per cent). The highest increases were observed in Spain (+3.5 per cent), Slovenia (+2.8 per cent), and Denmark (+2.7 per cent).

In February 2024, compared to January 2024, seasonally adjusted industrial production saw a rise of 0.8 per cent in the euro area and 0.7 per cent in the EU, data showed.

In January 2024, industrial production fell by 3.0 per cent in the euro area and by 2.7 per cent in the EU.

In the euro area in February 2024 compared with January 2024, industrial production increased by 0.5 per cent for intermediate goods, decreased by 3.0 per cent for energy, increased by 1.2 per cent for capital goods and 1.4 per cent for durable consumer goods and decreased by 0.9 per cent for non-durable consumer goods.

In the EU, industrial production increased by 0.9 per cent for intermediate goods, 1.0 per cent for capital goods, 1.7 per cent for durable consumer goods,decreased by 3.3 per cent for energy and decreased by 0.5 per cent for non-durable consumer goods.

The highest monthly increases were recorded in Ireland (+3.8 per cent), Hungary (+3.5 per cent) and Slovenia (+3.3 per cent).

The largest decreases were observed in Croatia (-4.6 per cent), Lithuania (-3.0 per cent) and Belgium (-2.7 per cent).